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New confirmation on cryptocurrency trading on PayPal?

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A few days ago a new confirmation arrived about the possibility of cryptocurrency integration by PayPal.

After the anonymous rumors in June, coming from qualified sources close to the company, according to which PayPal was going to allow cryptocurrencies to be bought and sold directly from its platform, now comes a new confirmation of Sandi bragar, CEO of Aspiriant.

Aspiriant is an investment management company that also offers investment consulting and financial planning services.

During a recent interview for CNBC's Squawk Box TV show, he said:

"We also like that PayPal is working with merchants to bring cryptocurrencies to market (e-commerce sector)."

Bragar was talking about how e-commerce has grown, particularly during the crisis of the coronavirus pandemic, mainly due to the shutdown. For this reason, Aspiriant is watching with great interest the trend in the price of Paypal shares (PYPL) listed on the Nasdaq, also because of its commitment to bring cryptocurrencies to the e-commerce sector.

PayPal's price rises thanks to cryptocurrencies

In fact, although it lost almost 30% of its value in mid-March, the price of PYPL has since soared to its all-time high, reaching a high of more than double in early September.

This powerful growth is certainly due to the role that the company's services are playing in the e-commerce sector, an important player during the lockdown, but it could also be linked to the June rumor on cryptocurrencies, given that in the week of 20 of June. at 27 the price rose 13.5%.

However, we do not know the sources of the information that Sandi Bragar shared, so it is not known if they correspond to the June rumors, or if they are different.

However, it should be noted that PayPal, months later, has never disproved those rumors, and since they seem to have had a significant impact on the price, it's hard to imagine PayPal simply choosing to ignore them.

In other words, it is possible to imagine that there could be some truth in them, since Bragar's words were said on television and not denied by the company.

In addition, the companies that allow the purchase and sale of cryptocurrencies are doing well, so it would not make much sense to imagine that PayPal decided not to get involved in this activity and simply let others do it.





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